USD/ILS 4H Chart: Review after new heights
After the US Dollar reached new heights against the Israeli Shekel, most patterns could be observed as broken. That fact pushed for a larger review.
It was discovered that the currency exchange rate is surging simultaneously in two ascending pattern. The dominant pattern has the form of an ascending wedge. Meanwhile, there exists a junior medium term ascending channel pattern.
In regards to the future, the rate is likely going to reach the high level of the monthly PP near the 3.70 mark in July. However, note that there might be short term, smaller time frame resistance levels existing that might slow down the surge.
It was discovered that the currency exchange rate is surging simultaneously in two ascending pattern. The dominant pattern has the form of an ascending wedge. Meanwhile, there exists a junior medium term ascending channel pattern.
In regards to the future, the rate is likely going to reach the high level of the monthly PP near the 3.70 mark in July. However, note that there might be short term, smaller time frame resistance levels existing that might slow down the surge.
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